Calculate the assessed value and the property tax due on the following properties.
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Contemporary Mathematics For Business & Consumers, Loose-leaf Version
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- Jill lived and worked in North Carolina for the entire 2013 tax year. Her adjusted gross income was $78,000 and she qualifies for the standard deduction of $3000 and exemption of $2000. Use the following 2011-2013 NC tax rate schedule (taken from http://www.dor.state.nc.us/taxes/individual/rates.html) to calculate her 2013 NC tax. If your filing status is single; and taxable income is more than: $0 $12,750 $60,000 but not over: 1% $12,750 $60,000 Jill's 2013 NC tax is: $ (Round to the nearest dollar.) What is Jill's effective tax rate? [Tax paid divided by taxable income] (Write as a percent, rounded to one decimal place.) your tax is: 6% OF THE NC TAXABLE INCOME AMOUNT ON FORM D- 400 $765 + 7% OF THE AMOUNT OVER $12,750 $4,072.50 +7.75% OF THE AMOUNT OVER $60,000arrow_forwardA principal amount of $4,350 is placed in a savings account with an annual interest rate of 2.6% compunded semi-annually. What is the total account balance after 5 years?arrow_forwardyou are paid 16.50/hr. you work 40 hr/week and 4 weeks/month. Your deductions are FICA (7.65%) and Federal Tax withholding (10%). The following table shows your monthly expenses. what is your gross income per month Rent (monthly) $657.00 Telephone (monthly) $56.34 Groceries (weekly) $56.00 Clothing (monthly with 1/2 job related $106.00 Water & Electric (monthly) 98.87 Dinner & Movie $40.00 (weekly)arrow_forward
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- Mrs. Wilson borrowed $5,760 from a bank at 8.25% per annum simple interest for 9 monthsarrow_forwardScott was involved in an auto accident in which he was at fault. His own car sustained $2,980 damages and the other vehicle cost $2,348 to repair. Scott was not injured, but the driver of the other car required medical treatment costing $33,180. Scott's policy includes 10/20/5 liability, $500 deductible collision, and full coverage comprehensive. How much of the damages must the insurance company pay? O $14,828 O $24,828 O $33,180 O $38,508arrow_forwardSimple Accounting - Property Tax. Market Value Tax Policy $593,427.00 O a. $18,900.18 O b. $6,611.28 Oc. $12,288.89 O d. $1,228,889.39 65.02% Rate 3.18492 Property Tax ?arrow_forward
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